Paytm Mall earmarks Rs 501 crore for cashbacks

The Alibaba-backed Paytm Mall aims to contribute up to 10-15% of retailers' overall festive sales as it is expecting 5-6 million visitors during the four-day period.Varsha Bansal | ET Bureau | September 18, 2017, 08:50 IST

As the top e-commerce players gear up for the festive sales this week with high discounts, their newest rival Paytm Mall has earmarked Rs 501 crore as cashbacks during its four-day sale starting September 20, with cashbacks ranging from 15% to 100%.

The Alibaba-backed platform aims to contribute up to 10-15% of retailers' overall festive sales as it is expecting 5-6 million visitors during the four-day period. The platform, which is run by Paytm E-commerce, will feature its highest cashback offers on key categories which include mobile, appliances and fashion.

"Moreover, our sale will be live across online and offline and customers will also be able to scan Paytm Mall QR codes and gain access to similar offers."

This, Sinha believes, will help brands to align offers across their online and offline distribution. The company recently revamped its mobile application and onboarded 1,000 brand stores and 15,000 brand authorised retailers selling over 65 million products.

"Over 80% of our partnered retailers are participating in this four-day sale. We will continue onboarding more sellers across the country ahead of the festive season," added Sinha, hoping to capture a significant market share during the festive season.